It is evident that Saudi citizens are quite passionate about luxurious cars, but the recent hike in fuel prices demand to consider hybrid or electric cars in Saudi Arabia as well.
Overview of Increasing Interest in Hybrid or Electric cars in Saudi Arabia
A survey of total 18,497 Saudi citizens was conducted, the 32% participants expressed their deep interest in buying electric or hybrid cars.
The 32% is one third (1/3) number of Saudi citizens who consider the market of electric or hybrid cars in Saudi Arabia.
The conducted survey highlights the interest of regional car buyers to develop and improve the automotive sector and services. This will help to develop the Government strategy and it’s overall view on customer satisfaction.
Features of a Hybrid Car:
- Environment Friendly: With a hybrid car you can get the same power as gasoline with up to 90% lesser emissions.
- Financial Benefit: It requires less amount of money on the fuel and repair and maintenance.
- Regenerative Braking System: The hybrid cars help to recharge battery on applying the brake each time while driving.
- Built From Light Materials: The engine is also smaller and lighter which also saves much energy.
- Higher Resale Value: With continuous increase in price of gasoline, more and more people are turning towards hybrid cars.
Tesla Inc. (Hybrid Car manufactures) intends to operate in KSA soon
Saudi Arabia’s wealth fund may have recently bought a big chunk of Tesla Inc.
However, Saudi Arabia has shown keen interest in investing in electric cars through its sovereign wealth fund.
The Public Investment Fund has built an almost 5 percent stake in Tesla and has agreed to invest more than $1 billion in electric-car startup Lucid Motors Inc.
Tesla showrooms probably will open in Saudi Arabia in one or two years, as foreign companies are now allowed to fully own operations they build in the kingdom.
Source: Arab News